Posted in home

The New Home Company Reports Selected 2020 Third Quarter Preliminary Results

The New Home Company Inc. (NYSE: NWHM) today announced selected preliminary results for the 2020 third quarter. These estimated results are preliminary and unaudited.

Preliminary 2020 Third Quarter Financial Highlights (Estimated Results)

  • Net new orders of 251 as compared to 124 in the 2019 third quarter, a 102% increase

  • Monthly sales absorption of 3.5 per community as compared to 2.0 per community in the 2019 third quarter, a 75% increase

  • September net new orders of 99, a 106% increase compared to September 2019

  • Homes in backlog of 329 homes, representing $207.1 million in backlog value, as compared to 207 homes at the end of the 2019 third quarter, a 59% increase

  • Ending actively selling community count of 25, a 14% increase compared to the end of the 2019 third quarter

  • Homes sales revenue of $117.4 million as compared to $118.8 million for the 2019 third quarter

    • Deliveries of 157 as

Read More
Continue Reading The New Home Company Reports Selected 2020 Third Quarter Preliminary Results
Posted in home repair

Home Flipping Declines But Profits Rebound Across U.S. In Second Quarter Of 2020

Home Flipping Rate Down From First Quarter of 2020; Typical Investment Return Rises to Highest Level Since Late 2018; Percent of Flips Financed With Cash Dips But Remains High

IRVINE, Calif., Sept. 17, 2020 /PRNewswire/ — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its second-quarter 2020 U.S. Home Flipping Report showing that 53,621 single-family homes and condominiums in the United States were flipped in the second quarter. Those transactions represented 6.7 percent of all home sales in the second quarter of 2020, or one in 15 transactions. That figure was down from 7.5 percent of all home sales in the nation during the prior quarter, or one in 13, but up from 6.1 percent, or one in 17 sales, in the second quarter of last year.

ATTOM Data Solutions (PRNewsfoto/ATTOM Data Solutions)
ATTOM Data Solutions (PRNewsfoto/ATTOM Data Solutions)

U.S. Home Flipping Trends

Read More
Continue Reading Home Flipping Declines But Profits Rebound Across U.S. In Second Quarter Of 2020
Posted in home improvement loans

Home Flipping Declines But Profits Rebound Across U.S. In Second Quarter Of 2020 | Nachricht

IRVINE, Calif., Sept. 17, 2020 /PRNewswire/ — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its second-quarter 2020 U.S. Home Flipping Report showing that 53,621 single-family homes and condominiums in the United States were flipped in the second quarter. Those transactions represented 6.7 percent of all home sales in the second quarter of 2020, or one in 15 transactions. That figure was down from 7.5 percent of all home sales in the nation during the prior quarter, or one in 13, but up from 6.1 percent, or one in 17 sales, in the second quarter of last year.

ATTOM Data Solutions (PRNewsfoto/ATTOM Data Solutions)

U.S. Home Flipping Trends Chart

While the home-flipping rate dropped from the first to the second quarter, both profits and profit margins rose. The gross profit on the typical home flip nationwide (the difference between the median sales price

Read More
Continue Reading Home Flipping Declines But Profits Rebound Across U.S. In Second Quarter Of 2020 | Nachricht
Posted in home improvement loans

Mortgage Originations, Refinancings Surged In Second Quarter Amid Low Rate Backdrop

KEY POINTS

  • In all of 2019, lenders extended about $2.5 trillion in home loans
  • Mortgage rates fell below 3% for the first time in July.
  • Only 18% of all refinancing borrowers retained post-refinance in the second quarter

Mortgage originations set a record in terms of volume in the second quarter despite the ongoing COVID-19 pandemic, data analytics firm Black Knight reported.

First lien mortgage origination volumes approached $1.1 trillion in the quarter – an all-time record. In all of 2019, lenders extended about $2.5 trillion in home loans.

“Despite the nation being under pandemic-related lockdowns for much of the quarter, a record-breaking surge in mortgage originations occurred in [the second quarter of 2020], driven by the record-low interest rate environment,” Black Knight Data & Analytics President Ben Graboske said. “Nearly $1.1 trillion in first lien mortgages were originated in [the second quarter of 2020], which is the largest quarterly origination

Read More
Continue Reading Mortgage Originations, Refinancings Surged In Second Quarter Amid Low Rate Backdrop
Posted in home remodeling

3 Ways Lowe’s Topped Home Depot This Quarter

The results are in, and it’s clear that the home improvement industry was booming in the second quarter. Both Home Depot (NYSE:HD) and Lowe’s (NYSE:LOW) announced more than 20% sales growth along with soaring profits as consumers redirected spending from categories like eating out and vacationing toward their homes.

Yet for the second quarter in a row, Lowe’s bested its larger rival in some key categories, including revenue gains. Let’s look at that metric and two others that suggest Home Depot has some work to do to close the performance gap between the two businesses.

A man and a woman paint a room together.

Image source: Getty Images.

1. Building on the growth wins

Since he took over the CEO spot in mid-2018, Marvin Ellison, who used to be an executive at Home Depot, has been telling investors that Lowe’s can compete at the top of the home improvement industry.

Ellison finally has some solid sales metrics to support

Read More
Continue Reading 3 Ways Lowe’s Topped Home Depot This Quarter
Posted in home remodeling

Home Depot Sales Surge 23% in the Second Quarter

While COVID-19 has put many companies, big and small, out of business, some have seen explosive growth tied to the pandemic. Home Depot (NYSE:HD) sales soared 23% in the second quarter as customers under lockdown focused on home improvement projects, and investments the company made in 2019 have started to pay off.

Loads of sales

Home Depot took in more than $38 billion in revenue during the quarter. U.S. comps increased 25%, and earnings per share shot up to $4.02 from $3.17 last year. The company also spent $480 million on extra employee benefits.

Home Depot paint associate.

Image source: Home Depot.

The home improvement giant’s earnings had been hampered previously as it invested in its One Home Depot strategy, which aimed to revamp its digital model and create a more agile business. It was a good time to accomplish that, as the company was able to reap the benefits of a solid system

Read More
Continue Reading Home Depot Sales Surge 23% in the Second Quarter